Question: Need help please pave Dennis operates a retail store that trades in small electronic devices He does not maintain proper accounting records but provided the
pave Dennis operates a retail store that trades in small electronic devices He does not maintain proper accounting records but provided the following information: 1 March 2017 28 February 2018 Fixtures and Fittings at book value 24 000 Equipment and Machinery at cost 21 000 32 000 38 000 Inventory 8 100 7 500 Accounts Receivable 5 400 Accounts Payable 6 200 3 900 4 700 Wages owing 2 200 1 500 Rates paid in advance 1 400 2 300 Accounts Receivable Interest Received Loan Summary of Bank Transactions 72 600 Balance b/d 1 100 Accounts Payable 14 000 Wages Rates Equipment and Machinery Repayment of Loan Balance c/d 87 700 12 200 4 500 34 200 17 400 9 400 6 000 4000 12 200 87 700 Balance b/d Additional Information for the year ended 28 February 2018: i) Included among Equipment and Machinery purchased is $4 000 for five tablets acquired for resale. ii) All Equipment and Machinery at year end are to be depreciated at 10% on cost ii) The following are to be taken into account: Discounts Allowed $1 300 Discounts Received $900 Returns Outwards $600 Required: a) Accounts Payable Ledger Account b) Accounts Receivable Ledger Account c) Income Statement for the year ended 28 February 2018 d) Statement of Financial Position as at 28 February 2018 SHOW ALL WORKINGS
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